Why are the governments of developed countries concerned about the quality of education in their countries?
What effect does education play in determining the country's economic growth rate and its standard of living? Why does it have this effect?
Improving the quality of education is an important policy that the government can undertake to increase the nation's economic growth rate. A higher quality education increases the nation's human capital. Increases in human capital boost labor productivity and, in turn, the increase in labor productivity raises the nation's economic growth rate as well as its standard of living.
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If the Fed wants to lower the nominal interest rate in the long run, the Fed ________ the growth rate of the quantity of money
A) raises B) first lowers and then raises C) lowers D) does not change E) None of the above answers is correct because the premise of the question is wrong since the Fed cannot affect the nominal interest rate, only the real interest rate.
The above figure shows the supply and demand curves for high-skilled and low-skilled labor. High-skilled workers earn a wage rate of
A) $15 per hour. B) $12 per hour. C) $9 per hour. D) $6 per hour.
Mass adoption of technology, like the steam engine, was not influenced greatly by the relative benefits and costs of the new technology compared to existing technology
Indicate whether the statement is true or false
When a firm decides to retain its earnings instead of paying dividends, the stockholders necessarily suffer
a. True b. False Indicate whether the statement is true or false